DekaBank Deutsche Girozentrale Grows Stock Holdings in LyondellBasell Industries (NYSE:LYB)

DekaBank Deutsche Girozentrale boosted its holdings in LyondellBasell Industries (NYSE:LYB) by 9.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 297,082 shares of the specialty chemicals company’s stock after purchasing an additional 24,826 shares during the period. DekaBank Deutsche Girozentrale’s holdings in LyondellBasell Industries were worth $30,422,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Capital World Investors bought a new position in shares of LyondellBasell Industries during the fourth quarter valued at about $197,305,000. Norges Bank bought a new position in LyondellBasell Industries in the fourth quarter worth about $82,854,000. Ilex Capital Partners UK LLP bought a new position in LyondellBasell Industries in the first quarter worth about $61,327,000. Allianz Asset Management GmbH raised its stake in LyondellBasell Industries by 826.1% in the fourth quarter. Allianz Asset Management GmbH now owns 409,241 shares of the specialty chemicals company’s stock worth $38,911,000 after buying an additional 365,050 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd raised its stake in LyondellBasell Industries by 42.2% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,010,494 shares of the specialty chemicals company’s stock worth $96,077,000 after buying an additional 300,106 shares in the last quarter. 71.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

LYB has been the subject of a number of research reports. Mizuho increased their price target on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Royal Bank of Canada upped their price objective on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. UBS Group cut their price objective on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Barclays upped their price objective on shares of LyondellBasell Industries from $100.00 to $104.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, LyondellBasell Industries has an average rating of “Hold” and an average target price of $105.17.

LyondellBasell Industries Price Performance

Shares of LYB stock traded down $3.75 on Friday, hitting $94.39. 2,611,720 shares of the stock traded hands, compared to its average volume of 1,318,859. The firm has a market cap of $30.74 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 1.21 and a beta of 1.09. The firm has a 50 day simple moving average of $96.00 and a two-hundred day simple moving average of $98.08. LyondellBasell Industries has a 52 week low of $88.46 and a 52 week high of $107.02. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.01. The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. LyondellBasell Industries’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company posted $2.44 earnings per share. As a group, equities research analysts predict that LyondellBasell Industries will post 8.3 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 5.68%. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, June 3rd. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 82.84%.

LyondellBasell Industries Profile

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.